Staples, Inc. Announces Early Termination of Hart-Scott-Rodino Waiting Period
July 27 2017 - 7:30AM
Business Wire
Staples, Inc. (NASDAQ: SPLS or “Staples”) announced that on July
26, 2017 the U.S. Federal Trade Commission granted early
termination of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 (the “HSR Act”) with respect to
the pending acquisition of Staples by investment funds managed by
Sycamore Partners, a leading private equity firm.
The termination of the waiting period under the HSR Act
satisfies one of the conditions to the closing of the pending
acquisition, which remains subject to other customary closing
conditions, including Staples’ stockholder approval.
About Staples, Inc.Staples
brings technology and people together in innovative ways to
consistently deliver products, services and expertise that elevate
and delight customers. Staples is in business with businesses and
is passionate about empowering people to become true professionals
at work. Headquartered outside of Boston, Mass., Staples, Inc.
operates primarily in North America. More information about Staples
(NASDAQ: SPLS) is available at www.staples.com.
Additional Information and Where to Find It
This press release may be deemed solicitation material in
respect of the proposed acquisition of Staples by Arch Parent Inc.
(the “Parent”), an affiliate of investment funds managed by
Sycamore Partners Management, L.P. Staples plans to file with the
SEC and mail to its stockholders a Proxy Statement in connection
with the transaction. This letter does not constitute a
solicitation of any vote or approval. The Proxy Statement will
contain important information about the Parent, Staples, the merger
and related matters. Investors and security holders are urged to
read the Proxy Statement carefully when it is available. Staples
filed preliminary proxy materials with the SEC on July 21,
2017.
Investors and security holders will be able to obtain free
copies of the Proxy Statement and other documents filed with the
SEC by the Parent and Staples through the web site maintained by
the SEC at www.sec.gov. In addition, investors and security holders
will be able to obtain free copies of the Proxy Statement from
Staples by contacting Staples Investor Relations department at
investor@staples.com. In addition, the proxy statement and our
annual reports on Form 10-K, quarterly reports on Form 10-Q,
current reports on Form 8-K and amendments to those reports filed
or furnished pursuant to section 13(a) or 15(d) of the Securities
Exchange Act of 1934 are available free of charge through our
website at investor.staples.com as soon as reasonably practicable
after they are electronically filed with, or furnished to, the
SEC.
Staples, and its directors and executive officers may be deemed
to be participants in the solicitation of proxies from Staples’s
stockholders with respect to the transactions contemplated by the
merger agreement between the Parent and Staples relating to the
proposed acquisition. Information regarding Staples’ directors and
executive officers, including their ownership of Staples’
securities, is contained in Staples’ Annual Report on Form 10-K for
the year ended January 28, 2017 and its proxy statement dated April
20, 2017, which are filed with the SEC. Investors and security
holders may obtain additional information regarding the direct and
indirect interests of Staples and its directors and executive
officers in the proposed transaction by reading the proxy statement
and other public filings referred to above.
Safe Harbor for Forward-Looking Statements
Statements in this press release regarding the proposed
transaction between the Parent and Staples, the expected timetable
for completing the transaction, future financial and operating
results, future opportunities for the combined company and any
other statements about the Parent and Staples managements’ future
expectations, beliefs, goals, plans or prospects constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Any statements that are
not statements of historical fact (including statements containing
the words “believes,” “plans,” “anticipates,” “expects,” estimates
and similar expressions) should also be considered to be forward
looking statements, although not all forward-looking statements
contain these identifying words. Readers should not place undue
reliance on these forward-looking statements. Staples’ actual
results may differ materially from such forward-looking statements
as a result of numerous factors, some of which Staples may not be
able to predict and may not be within Staples’ control. Factors
that could cause such differences include, but are not limited to,
(i) the risk that the proposed merger may not be completed in a
timely manner, or at all, which may adversely affect Staples’
business and the price of its common stock, (ii) the failure to
satisfy all of the closing conditions of the proposed merger,
including the adoption of the merger agreement by Staples’
stockholders and the receipt of certain governmental and regulatory
approvals in the U.S. and in foreign jurisdictions, (iii) the
occurrence of any event, change or other circumstance that could
give rise to the termination of the merger agreement, (iv) the
effect of the announcement or pendency of the proposed merger on
Staples’ business, operating results, and relationships with
customers, suppliers, competitors and others, (v) risks that the
proposed merger may disrupt Staples’ current plans and business
operations, (vi) potential difficulties retaining employees as a
result of the proposed merger, (vii) risks related to the diverting
of management’s attention from Staples’s ongoing business
operations, and (viii) the outcome of any legal proceedings that
may be instituted against Staples related to the merger agreement
or the proposed merger. There are a number of important, additional
factors that could cause actual results or events to differ
materially from those indicated by such forward looking statements,
including the factors described in Staples’ Annual Report on Form
10-K for the year ended January 28, 2017 and its most recent
quarterly report filed with the SEC. Staples disclaims any
intention or obligation to update any forward looking statements as
a result of developments occurring after the date of this press
release.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170727005331/en/
Staples, Inc.Media Contacts:Mark Cautela,
508-253-3832mark.cautela@staples.comorInvestor Contact:Scott
Tilghman, 508-253-1487scott.tilghman@staples.com
Staples, Inc. (NASDAQ:SPLS)
Historical Stock Chart
From Apr 2024 to May 2024
Staples, Inc. (NASDAQ:SPLS)
Historical Stock Chart
From May 2023 to May 2024